Mastercard Incorporated $MA Shares Sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. cut its position in shares of Mastercard Incorporated (NYSE:MA) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,179 shares of the credit services provider’s stock after selling 112 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Mastercard were worth $4,596,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MA. LGT Financial Advisors LLC acquired a new position in shares of Mastercard during the 2nd quarter valued at $25,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Mastercard during the 2nd quarter valued at $26,000. Flaharty Asset Management LLC acquired a new position in shares of Mastercard during the 1st quarter valued at $27,000. Keystone Global Partners LLC acquired a new position in shares of Mastercard during the 1st quarter valued at $31,000. Finally, IMG Wealth Management Inc. acquired a new position in shares of Mastercard during the 2nd quarter valued at $31,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Morgan Stanley lifted their target price on Mastercard from $639.00 to $661.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Wall Street Zen upgraded Mastercard from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Truist Financial set a $638.00 target price on Mastercard in a report on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Mastercard in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Mastercard in a report on Thursday, July 17th. They issued a “buy” rating and a $650.00 target price on the stock. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $638.96.

Insider Buying and Selling at Mastercard

In related news, CFO J. Mehra Sachin sold 17,816 shares of Mastercard stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $586.89, for a total transaction of $10,456,032.24. Following the completion of the sale, the chief financial officer owned 31,234 shares of the company’s stock, valued at approximately $18,330,922.26. This trade represents a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Mastercard Stock Performance

Shares of MA stock opened at $573.72 on Monday. Mastercard Incorporated has a 1-year low of $465.59 and a 1-year high of $601.77. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $518.65 billion, a price-to-earnings ratio of 38.69, a P/E/G ratio of 2.35 and a beta of 0.97. The stock’s fifty day simple moving average is $579.51 and its 200-day simple moving average is $566.36.

Mastercard (NYSE:MA) last issued its quarterly earnings results on Thursday, July 31st. The credit services provider reported $4.15 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.10. Mastercard had a return on equity of 200.01% and a net margin of 44.93%.The business had revenue of $8.13 billion for the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter in the previous year, the company posted $3.50 earnings per share. Mastercard’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, sell-side analysts predict that Mastercard Incorporated will post 15.91 earnings per share for the current fiscal year.

Mastercard Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Thursday, October 9th will be issued a dividend of $0.76 per share. The ex-dividend date is Thursday, October 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 0.5%. Mastercard’s payout ratio is currently 20.50%.

Mastercard Company Profile

Mastercard Incorporated, a technology company, provides transaction processing and other payment-related products and services in the United States and internationally. The company offers integrated products and value-added services for account holders, merchants, financial institutions, digital partners, businesses, governments, and other organizations, such as programs that enable issuers to provide consumers with credits to defer payments; payment products and solutions that allow its customers to access funds in deposit and other accounts; prepaid programs services; and commercial credit, debit, and prepaid payment products and solutions.